On Assignment to launch $594 million term loan B on Thursday

By Sara Rosenberg

New York, Aug. 9 – On Assignment Inc. is scheduled to hold a lender call at 11 a.m. ET on Thursday to launch the repricing of its existing $594 million term loan B, according to a market source.

Price talk on the deal is Libor plus 200 basis points with no Libor floor and a par issue price, the source said.

The repriced loan will include 101 soft call protection for six months.

Wells Fargo Securities LLC is the lead bank on the deal.

The repricing will take the term loan B down from Libor plus 225 bps with no Libor floor.

Commitments are due at 3 p.m. ET on Aug. 16, the source added.

On Assignment is a Calabasas, Calif.-based provider of diversified professional staffing solutions.

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